Today’s Stock On Watch: What’s Cameco Corporation (USA) Downside After Touching Yearly Low?

Today's Stock On Watch: What's Cameco Corporation (USA) Downside After Touching Yearly Low?

The stock of Cameco Corporation (USA) (NYSE:CCJ) hit a new 52-week low and has $7.73 target or 5.00% below today’s $8.14 share price. The 8 months bearish chart indicates high risk for the $3.11 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $7.73 price target is reached, the company will be worth $155.50M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 3.99M shares traded hands or 72.73% up from the average. Cameco Corporation (USA) (NYSE:CCJ) has declined 41.90% since March 31, 2016 and is downtrending. It has underperformed by 44.42% the S&P500.

Analysts await Cameco Corporation (USA) (NYSE:CCJ) to report earnings on November, 4. They expect $0.25 earnings per share, up 66.67% or $0.10 from last year’s $0.15 per share. CCJ’s profit will be $95.52 million for 8.14 P/E if the $0.25 EPS becomes a reality. After $-0.11 actual earnings per share reported by Cameco Corporation (USA) for the previous quarter, Wall Street now forecasts -327.27% EPS growth.

Cameco Corporation (USA) (NYSE:CCJ) Ratings Coverage

Out of 4 analysts covering Cameco (NYSE:CCJ), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Cameco has been the topic of 4 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Thursday, August 6 the stock rating was maintained by Cowen & Co with “Market Perform”. The rating was downgraded by Bank of America to “Neutral” on Thursday, July 21. The stock of Cameco Corporation (USA) (NYSE:CCJ) earned “Sector Perform” rating by Scotia Capital on Thursday, April 7. RBC Capital Markets maintained it with “Outperform” rating and $24 target price in Tuesday, November 3 report.

According to Zacks Investment Research, “Cameco Corporation is the world’s largest publicly traded uranium company and a growing gold producer. Its uranium products are used to generate electricity in nuclear power plants around the world, providing one of the cleanest sources of energy available today.”

More notable recent Cameco Corporation (USA) (NYSE:CCJ) news were published by: Fool.ca which released: “Bombardier, Inc. or Cameco Corporation: Is 1 a Better Contrarian Bet?” on October 24, 2016, also Fool.ca with their article: “Cameco Corporation Has Explosive Growth Potential” published on October 17, 2016, Fool.ca published: “Cameco Corporation vs. Encana Corp.: Which Is a Better Bet Today?” on September 01, 2016. More interesting news about Cameco Corporation (USA) (NYSE:CCJ) were released by: Fool.ca and their article: “Can Cameco Corporation Survive Weak Uranium Prices?” published on October 13, 2016 as well as Fool.ca‘s news article titled: “Cameco Corporation: How Low Could This Stock Go?” with publication date: September 21, 2016.

CCJ Company Profile

Cameco Corporation (Cameco), incorporated on January 1, 1997, is a uranium producer. The Firm is engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Firm operates through three divisions: uranium, fuel services and NUKEM. Cameco conducts a portion of its exploration, development, mining and milling activities through joint activities located around the world. Cameco’s Canadian uranium joint operation interests are McArthur River, Key Lake and Cigar Lake. The Company’s subsidiaries include Cameco Fuel Manufacturing Inc. (CFM), Cameco Inc., Power Resources, Inc., Crow Butte Resources, Inc., NUKEM Investments GmbH, Cameco Australia Pty. Ltd. and Cameco Europe Ltd.

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